Wednesday, May 14, 2008

Most Mortgage Defaults in History!

by Chris Thompson
Wed, May 14, 2008 at 7:54 AM

Via the East Bay Business Times, the foreclosure tracking company Foreclosureradar reported that for the first time in history, banks seized more than one thousand California homes every single day in the month of April. In the East Bay, the numbers are similarly stratospheric. The number of homes in Alameda County in default rose by 213 percent over the same period last year. In Contra Costa County, the number of defaults rose 283 percent. Now, start thinking about gas prices, water rationing, and the coming heat wave, and we're really starting to cook with oil!

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